Just like RERA which regulates the guidelines of construction, there is the MOFA Act, which also regulates the promotion, construction, sale, management and transfer of flats sold on ownership in Maharashtra. The full form of MOFA is the Maharashtra Ownership of Flats. This act was first introduced in 1963. Let us learn about Maharashtra ownership of flats act.
Draft any legal document by hiring expert lawyers at NoBroker legal services!Now that we know what is MOFA Act I will briefly discuss the guidelines that need to be followed. The police can act if these guidelines are violated.
The possession of the flat should be granted on the date promised.
An occupation certificate should be obtained before the date of possession.
The BMC plan should be displayed at the site.
The amount received from the buyer should be deposited in the bank.
The construction should be similar to the approved plan.
A Housing society should be formed within 4 months of giving possession.
The conveyance of land and building should be done within 4 months of registration of the society.
There are many builders who make false promises and delay the date of possession and then there are others who make extra floors to increase the sale of property which has not been approved by the authorities. To control these illegal acts the Maharashtra ownership flats act 1963 (MOFA) has come up with their own guidelines. Although there is still a little confusion between the RERA and MOFA guidelines since the guidelines differ at times from one another, legal experts and citizens have maintained the MOFA and there has been no notification repealing the MOFA act 1963.
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Authors Of The Question
What is MOFA act?
Fardin
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2 Year
2022-07-20T10:25:16+00:00 2022-07-20T10:48:22+00:00Comment
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